A person working in Banking in Mozambique typically earns around 43,700 MZN per month. Salaries range from 13,800 MZN (lowest average) to 89,700 MZN (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
|Job Title||Average Salary|
|AML Analyst||63,500 MZN|
|Assistant Bank Branch Manager||50,500 MZN|
|Assistant Bank Manager||67,800 MZN|
|ATM Manager||60,000 MZN|
|ATM Service Technician||15,700 MZN|
|Bank Accounts Analyst||22,600 MZN|
|Bank Accounts Controller||31,000 MZN|
|Bank Accounts Executive||43,600 MZN|
|Bank Accounts Manager||53,000 MZN|
|Bank Auditing Manager||53,000 MZN|
|Bank Branch Manager||72,600 MZN|
|Bank Clerk||14,300 MZN|
|Bank Compliance Specialist||37,200 MZN|
|Bank Manager||83,400 MZN|
|Bank Operational Risk Manager||84,800 MZN|
|Bank Operations Head||85,700 MZN|
|Bank Operations Officer||34,100 MZN|
|Bank Operations Specialist||54,600 MZN|
|Bank Process Manager||49,100 MZN|
|Bank Product Manager||57,100 MZN|
|Bank Programme Manager||55,100 MZN|
|Bank Project Manager||69,500 MZN|
|Bank Propositions Manager||62,800 MZN|
|Bank Quantitative Analyst||40,900 MZN|
|Bank Regional Manager||85,700 MZN|
|Bank Regional Risk Officer||45,800 MZN|
|Bank Relationship Manager||65,800 MZN|
|Bank Relationship Officer||30,200 MZN|
|Banking Business Analyst||44,600 MZN|
|Banking Business Development Officer||27,500 MZN|
|Banking Business Planning Executive||64,300 MZN|
|Banking Product Manager||55,500 MZN|
|Banking Reference Data Manager||49,000 MZN|
|Banking Risk Analyst||44,800 MZN|
|Banking Technical Analyst||24,000 MZN|
|Bankruptcy Coordinator||30,800 MZN|
|Budget Analyst||43,600 MZN|
|Cards Marketing Manager||53,300 MZN|
|Cash Management Manager||80,500 MZN|
|Check Processing Manager||56,500 MZN|
|Commercial Vault Associate||44,600 MZN|
|Corporate Dealer||43,800 MZN|
|Credit Analyst||35,300 MZN|
|Credit and Collections Manager||58,200 MZN|
|Credit Card Fraud Investigator||46,700 MZN|
|Credit Portfolio Manager||78,700 MZN|
|Credit Risk Analyst||49,500 MZN|
|Credit Risk Associate||46,200 MZN|
|Direct Bank Sales Representative||30,400 MZN|
|Financial Bank Planning Consultant||58,200 MZN|
|Financial Banking Analysis Manager||62,700 MZN|
|Financial Banking Assistant||21,300 MZN|
|Financial Banking Systems Manager||57,700 MZN|
|Foreign Exchange Manager||64,700 MZN|
|Fraud Analyst||47,000 MZN|
|Fraud Detection Associate||30,400 MZN|
|Fraud Detection Manager||70,700 MZN|
|Fraud Detection Supervisor||38,500 MZN|
|Internal Bank Audit Manager||79,800 MZN|
|Internal Bank Auditor||44,400 MZN|
|International Banking Manager||89,100 MZN|
|Loan Analyst||42,500 MZN|
|Loan Area Manager||54,900 MZN|
|Loan Audit Team Leader||51,400 MZN|
|Loan Branch Manager||48,300 MZN|
|Loan Business Development Officer||27,300 MZN|
|Loan Clerk||15,100 MZN|
|Loan Collection Manager||53,700 MZN|
|Loan Collector||14,600 MZN|
|Loan Examiner||18,400 MZN|
|Loan Processing Manager||47,600 MZN|
|Loan Processor||18,800 MZN|
|Loan Quality Assurance Auditor||44,500 MZN|
|Loan Quality Assurance Manager||51,800 MZN|
|Loan Quality Assurance Representative||32,800 MZN|
|Loan Review Manager||51,800 MZN|
|Loan Team Leader||43,900 MZN|
|Mortgage Advisor||31,600 MZN|
|Mortgage Collection Manager||50,600 MZN|
|Mortgage Collector||14,800 MZN|
|Mortgage Credit Analyst||22,800 MZN|
|Mortgage Credit Manager||50,300 MZN|
|Mortgage Development Manager||54,700 MZN|
|Mortgage Document Reviewer||19,500 MZN|
|Mortgage Funding Manager||54,900 MZN|
|Mortgage Operations Manager||76,000 MZN|
|Mortgage Payment Processing Clerk||17,600 MZN|
|Mortgage Processing Manager||50,900 MZN|
|Mortgage Processor||18,900 MZN|
|Mortgage Quality Assurance Auditor||43,200 MZN|
|Mortgage Quality Assurance Manager||51,700 MZN|
|Mortgage Servicing Clerk||15,400 MZN|
|Mortgage Servicing Manager||46,200 MZN|
|Mortgage Underwriter||18,300 MZN|
|Online Banking Manager||79,300 MZN|
|Payment Processing Clerk||15,400 MZN|
|Personal Banker||30,300 MZN|
|Personal Banking Advisor||31,500 MZN|
|Phone Banker||21,000 MZN|
|Private Banker||32,800 MZN|
|Reconciliation and Investigation Specialist||35,500 MZN|
|Trade Officer||18,800 MZN|
|Trade Product Manager||51,200 MZN|
|Treasury Operations Officer||38,900 MZN|
Banking salaries in Mozambique range from 13,800 MZN per month (minimum average salary) to 89,700 MZN per month (maximum average salary, actual maximum is higher).
The median salary is 42,000 MZN per month, which means that half (50%) of people working in Banking are earning less than 42,000 MZN while the other half are earning more than 42,000 MZN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 25,100 MZN while 75% of them are earning more than 25,100 MZN. Also from the diagram, 75% of people working in Banking are earning less than 63,200 MZN while 25% are earning more than 63,200 MZN.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
A Master's degree program or any post-graduate program in Mozambique costs anywhere from 201,000 Metical(s) to 603,000 Metical(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Mozambique who work in Banking earn 10% more than their female counterparts on average.
Banking professionals in Mozambique are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Mozambique for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
42% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 58% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Banking is 9% more than that of All Jobs.
Where can you get paid more, working for a private company or for the government? Public sector employees in Mozambique earn 14% more than their private sector counterparts on average across all sectors.